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  • The Complete Guide to Reverse Mortgages: Turn Your Home Equity into Instant Income!


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  • The Complete Guide to Reverse Mortgages: Turn Your Home Equity into Instant Income!


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    Adams Media

    List Price:
    $12.95

    Price: $5.62
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    • home equity mortgage FAQ

    Can you pay off a home mortgage with a home equity line of credit?

    Feb 05, 2009 by Karen S | Posted in Personal Finance

    My sister is asking me for money to pay up her home equity line. When I asked about her mortgage payment, she said she paid it off with her home equity line. Is that possible to borrow money on your home to pay off your home?

    If her home mortgage rate was higher than her line of credit it makes sense. I do not have a home mortgage but I do have a line of credit on my home.

    Normally you can just make interest payments on a equity line if you want. My heloc

    zbikenut | Feb 09, 2009

    Technically, you can do that. Pay off your mortgage with your (Home Equity Line of Credit) HELOC. It doesn't make much sense because the bank who financed the HELOC can still foreclose on the house.

    Plus you still owe money on your house,
    Dave | Feb 05, 2009

    Can a debt collector physically show up to your home to collect on a home equity mortgage?

    Jul 01, 2008 by William R | Posted in Personal Finance

    I was a collector of unsecured debt for years ( I was the guy that hounds you on the phone :(). I know the FTC regulates debt collection through the Federal Debt Collectors Practices Act. I remember my boss telling me about the Good Ol' Days when he would

    No. These guys bluff better than poker players or hustlers in a pool hall. You don't owe anything to the debt collector. You owe the retailer or merchant. The retailer/merchant sold your debt to the collector for pennies and now the debt collector is

    Beadyeye | Jul 03, 2008

    In your case, I approve of it.
    Feeling Mutual | Jul 01, 2008

    Is a home equity mortgage the same as a second mortgage?

    Aug 08, 2007 by Joe | Posted in Renting & Real Estate

    Are the terms interchangable or are they two different things?

    Yes, a home equity loan IS a 2nd mortgage.

    Some people however, consider a "2nd mortgage" to be a closed-end fixed rate lump sum loan. While a "line of credit" is revolving and can be used over and over again.

    Mortgagemom | Aug 08, 2007

    home equity mortgage news

    Negative equity mortgages – does the shoe fit?

    23.02.12

    THE ANNOUNCEMENT this week that a few of the banks will be offering negative equity mortgages to people trading up must have come as a momentary chink of light to growing families trapped in confined spaces, until, that is, they realised it doesn’t apply to them.


    Source: Irish Times (blog)

    Danielo: California's First Action Rule No Defense Against Home Equity Line Of ...

    23.02.12

    Wells Fargo Bank N.A. v. Danielo , 2012 WL 472739 (Cal.App. 5 Dist., Unpublished, Feb. 14, 2012). Full Opinion at http://goo.gl/3QQSN

    The facts are these:

    2005, May — Debtor buys a home in California, with a $402,000 Countrywide loan secured by a first-position
    Source: Forbes

    Biggest U.S. Mortgage Lenders

    23.02.12 /PRNewswire/ -- Residential originations fell in 2011, and some lenders saw a bigger decline than others, according to MortgageDaily.com's 2011 Mortgage Lender Ranking . The government's role in residential finance was reduced last year.

    Fourth-quarter originations by all lenders were an estimated $381 billion, up from approximately $317 billion closed three months earlier.


    Source: Sacramento Bee